LONDON, Feb. 19, 2018 (GLOBE NEWSWIRE) -- The South East Asia collagen market will grow at a CAGR of 7.2% from 2018 to 2023 to reach USD 142.84 million by 2023, mainly driven by “growing inclination towards protein consumption & nutricosmetics; increasing use of collagen in food, healthcare, and technical applications; and rising use of collagen based biomaterials. However, factors such as need of compliance with various standards and stringent regulations due to safety concerns, religious constraints, and growing use of alternatives are expected to hinder the growth of this market to some extent” notes Meticulous Research™.
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The report also notes that, gelatin is expected to dominate the South East Asian collagen market during the forecast period. The application of gelatin has been significant in pharmaceutical industry, as it is primarily being used to make the shells of hard and soft capsules, tablets, granulation, suppositories, plasma substitute for medicines, dietary/health supplements, syrups, etc.
Further, pig collagen accounted for the major share of the South East Asian collagen market in 2017, owing to the large amount of pork being consumed in this region that results in the abundant availability of raw material for the collagen manufacturing. Also, pig skin is the most favoured source of collagen, as the other sources like fish collagen are exposed to denaturation and exhibits inferior gelling, emulsifying, foaming, and film-forming properties to those of commercial pig skin gelatin.
Geographically, Indonesia commanded the largest share in the South East Asian collagen market in 2017, which is attributed to its booming food processing industry due to growing population, increased urbanization, growing awareness of healthy products, rising incomes, the shift of consumers towards modern retail stores, and growing tourism industry. In addition, Indonesia’s fast-growing economy and growing livestock and meat processing industry further drives the market for collagen in this country.
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Report Scope:
Market by Product
- Gelatin
- Collagen peptide
Market by Source
- Porcine
- Bovine
- Marine
- Chicken
- Sheep
- Other animals
Market by Application
- Food and beverages
- Pharmaceuticals
- Nutraceuticals
- Cosmetics
- Healthcare
- Technical
Market by Geography
- Indonesia
- Thailand
- Malaysia
- Philippines
- Vietnam
- Singapore
- RoSEA
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